Iron ore markets are quiet but that looks set to change today

Iron ore spot markets were deathly quiet on the appropriately named Tomb Sweeping Festival holiday in China with minimal movements recorded on Tuesday.

According to Metal Bulletin, the spot price for benchmark 62% fines rose by 0.11% to $79.45 a tonne, snapping a three session losing streak in the process.

No change was registered in the price of higher or lower grade ores.

Market activity looks set to pickup on Wednesday with trade resuming in China following a four-day break.

Chinese futures will reopen from 11am AEST.

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